Gold Declines for Fourth Consecutive Month

Gold and silver futures fall Thursday; mining stocks follow suit

Gold gave back Wednesday’s gains on Thursday, spurred in part after the Commerce Department announced that personal incomes in the U.S. rose 2.6% last month, easily beating the 0.8% gain forecast by economists, and suggesting a strengthening U.S. economy.

Gold futures for March delivery dropped almost 1.1% to $1,661.30 on Thursday, according to CME Group. Gold traded as high as $1,680.50 and as low as $1,658.30. The move cemented a loss for January, making it the fourth consecutive month the metal has declined. Gold bullion closed in London at $1,666, according to BullionVault.